In a report released today, Bo Pei CFA from Oppenheimer maintained a Hold rating on Iqiyi (IQ). The company’s shares closed last Tuesday at $13.95, close to its 52-week low of $12.14.
According to TipRanks.com, CFA ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -15.2% and a 17.6% success rate. CFA covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, BlueCity Holdings, and Tencent Holdings.
Iqiyi has an analyst consensus of Hold, with a price target consensus of $18.43, implying a 36.5% upside from current levels. In a report issued on May 6, J.P. Morgan also upgraded the stock to Hold with a $15.00 price target.
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Based on Iqiyi’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $7.46 billion and GAAP net loss of $1.55 billion. In comparison, last year the company earned revenue of $7.5 billion and had a GAAP net loss of $2.49 billion.
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iQIYI, Inc. engages in the provision of internet video streaming services. It also operates a smart television streaming service and an entertainment-based social media platform, iQIYI Paopao. The company was founded by Yu Gong in November 2009 and is headquartered in Haidan District, China.